Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Stock Has Consensus Target Price of $7.69

Key Points

• Analysts rate Eos Energy a Hold on average: six of 10 brokerages assigned Hold, while three rated it Buy or Strong Buy and one rated it Sell. The average 12-month price target is $7.69.
• Third-quarter results topped estimates: revenue was $82.73 million versus $81.60 million expected, and the $0.17-per-share loss was narrower than the $0.24 forecast. Revenue increased 171% year over year, with gross margin improving by 58 percentage points.
• The shares remain under pressure: EOSE opened at $1.74, near its 12-month low of $1.59 and well below its 50-day and 200-day moving averages.

Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) have earned an average rating of "Hold" from the ten brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $7.69.

Several research analysts recently issued reports on EOSE shares. Truist Financial began coverage on Eos Energy Enterprises in a research report on Monday, July 13th. They set a "buy" rating and a $7.00 target price for the company. Stifel Nicolaus lowered their target price on shares of Eos Energy Enterprises from $10.00 to $9.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. B. Riley Financial reduced their price target on shares of Eos Energy Enterprises from $8.00 to $5.00 and set a "neutral" rating on the stock in a research note on Friday, August 14th. TD Cowen raised shares of Eos Energy Enterprises to a "hold" rating in a report on Monday, October 5th. Finally, Roth Capital boosted their price objective on shares of Eos Energy Enterprises from $4.00 to $4.50 and gave the stock a "neutral" rating in a research report on Thursday, September 10th.

Eos Energy Enterprises Price Performance

Shares of Eos Energy Enterprises stock opened at $1.74 on Friday. The stock has a market capitalization of $633.66 million, a price-to-earnings ratio of -0.83 and a beta of 3.17. Eos Energy Enterprises has a 12 month low of $1.59 and a 12 month high of $19.86. The business has a 50-day moving average of $2.86 and a 200 day moving average of $5.98.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.24) by $0.07. The business had revenue of $82.73 million for the quarter, compared to analyst estimates of $81.60 million. Equities research analysts anticipate that Eos Energy Enterprises will post -1.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Haiyan Song acquired 10,000 shares of the firm's stock in a transaction that occurred on Friday, September 11th. The stock was bought at an average cost of $3.95 per share, for a total transaction of $39,500.00. Following the acquisition, the director directly owned 10,000 shares in the company, valued at approximately $39,500. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Sumeet Puri sold 43,750 shares of the business's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $3.92, for a total value of $171,500.00. Following the sale, the chief accounting officer owned 280,195 shares in the company, valued at $1,098,364.40. The trade was a 13.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 377,917 shares of company stock valued at $1,392,610. Insiders own 1.73% of the company's stock.

Hedge Funds Weigh In On Eos Energy Enterprises

Several hedge funds have recently made changes to their positions in EOSE. Allworth Financial LP raised its holdings in Eos Energy Enterprises by 198.6% during the 2nd quarter. Allworth Financial LP now owns 4,300 shares of the company's stock worth $25,000 after purchasing an additional 2,860 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Eos Energy Enterprises by 279.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,577 shares of the company's stock valued at $48,000 after buying an additional 7,053 shares in the last quarter. Nykredit A S bought a new stake in Eos Energy Enterprises during the 2nd quarter valued at approximately $60,000. Sax Wealth Advisors LLC bought a new stake in Eos Energy Enterprises during the third quarter valued at approximately $31,000. Finally, Abel Hall LLC purchased a new stake in Eos Energy Enterprises during the first quarter valued at approximately $56,000. Institutional investors and hedge funds own 54.87% of the company's stock.

Eos Energy Enterprises News Roundup

Here are the key news stories impacting Eos Energy Enterprises this week:

• Positive Sentiment: Third-quarter revenue rose 171% year over year to $82.7 million, topping the $81.6 million consensus estimate. Gross margin improved by 58 percentage points, and the $0.17-per-share loss was narrower than analyst estimates; Zacks also reported a much smaller loss than a year earlier. These results point to improving growth and operating performance. Company earnings release
• Positive Sentiment: A report attributed optimism around EOSE to its record quarterly revenue and a Google deal, adding a potential commercial catalyst to the earnings beat. The supplied article details do not specify the deal’s terms. Article on revenue and Google deal
• Neutral Sentiment: Unusually high trading in EOSE call options suggests some investors are positioning for a rebound, though options activity is speculative and does not establish the direction of future shares. Article on call options
• Negative Sentiment: Despite the improved results, the stock’s $1.74 price is far below its 50-day average of $2.90 and 200-day average of $6.06, and close to its 52-week low of $1.59. That weakness suggests investors may still be weighing execution, profitability, and financing risks.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to help utilities, renewable energy developers, and commercial and industrial customers store electricity for use when demand is high or renewable generation is unavailable. The company's technology is based on aqueous zinc battery chemistry, which it markets as a non-lithium alternative for stationary energy storage applications.

Eos' product portfolio includes the Eos Z3 battery system and related generations of its zinc-based storage technology.

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